TOKYO (dpa-AFX) - Tokyo Gas Co.,Ltd. (TOG.F) Wednesday reported profit before taxes of 131.997 billion yen for the first quarter, significantly higher than 27.705 billion yen in the comparable quarter last year, primarily helped by certain one-off gains.
The company recorded gain on sale of non-current assets of 4.285 billion; gain on sale of investment securities of 2.561 billion; and gain on reversal of foreign currency translation adjustment of 68.013 billion in the latest quarter.
Operating profit increased to 62.523 billion from 25.899 billion in the prior year.
Net profit rose to 101.727 billion or 282.35 yen per basic share from 18.883 billion yen or 47.61 yen per basic share a year ago.
Net sales for the quarter grew 10.3% to 647.341 billion yen from 586.829 billion yen in the previous year.
For the full year, the company expects net profit to increase 146.6% year-on-year to 183 billion yen, with basic EPS of 524.79 yen. Net sales are expected at 2,754 billion yen, up 4.4% from last year.
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